Opportunities for developing green finance and financial instruments for nature conservation were discussed with World Bank partners.
A meeting was held at the Ministry of Environment of the RA, led by Hayk Arakelyan, Deputy Minister, with World Bank partners and international experts to discuss opportunities for developing green finance and innovative financial instruments aimed at biodiversity conservation in Armenia.
During the meeting, preliminary assessments and proposals regarding the development of green finance and green bonds in Armenia were presented, and the level of market readiness was discussed. Possible models for nature conservation financial instruments were also considered, covering areas such as the restoration of specific species and ecosystems, the preservation of pastures and hayfields, agroforestry, water resource management, and the development of protected areas.
The parties also emphasised the importance of establishing effective systems for the monitoring, reporting, and verification (MRV) of funded environmental programmes, as well as the potential involvement of international financial institutions and funds.
Additionally, the parties discussed opportunities for international partnerships and advancing the biodiversity finance agenda within the framework of COP17. It was noted that the 17th Conference of the Parties to the Convention on Biological Diversity, to be hosted by Armenia, serves as an important platform for presenting and discussing new financial mechanisms and investment opportunities aimed at nature conservation.
During the meeting, the continued development of cooperation with the World Bank and other international partners was highlighted, with the aim of establishing a comprehensive nature finance framework in Armenia, mobilising public and private financial resources, and promoting investment in biodiversity conservation.